EADS drew a line under its failed merger with BAE Systems as Airbus aircraft maker reported a 19 per cent jump in full-year profits.
EADS recorded a €1.23bn (£1.1bn) profit for 2012, as a strong performance by its Airbus unit helped to boost sales by 15 per cent to €56.48bn. The strong full-year showing outweighed a 47 per cent profits decline for the fourth quarter, and investors sent EADS shares up by 6 per cent to €37.14.
EADS reported a €325m profit for the fourth quarter, after taking nearly €300m of charges relating to restructuring and contract renegotiations.
Airbus was given a further boost as its arch-rival, Boeing, continued to suffer in the wake of battery problems at its 787 Dreamliner. The Federal Aviation Administration denied reports it is close to approving test flights for the troubled plane.Reuse content